Apple, Cisco team up to push for cyber security insurance discounts

By Stephen Nellis

3 Min Read

An Apple store is seen in Los Angeles, California, United States, April 22, 2016.Lucy Nicholson

(Reuters) - Apple Inc (AAPL.O) is working with Cisco Systems Inc (CSCO.O) to help businesses that primarily use gear from both companies to get a discount on cyber-security insurance premiums, Apple Chief Executive Officer Tim Cook said on Monday.

Sharing a stage with Cisco CEO Chuck Robbins at a Cisco event in Las Vegas, Cook said the combination of gear from the two companies was more secure than the use of competing technology, such as the Android mobile operating system made by Alphabet Inc's (GOOGL.O) Google.

"The thinking we share here is that if your enterprise or company is using Cisco and Apple, the combination of these should make that (cyber-security) insurance cost significantly less," Cook said. "This is something we're going to spend some energy on. You should reap that benefit."

Cisco gave few details about the effort, saying in a company blog post the two companies were "collaborating with insurance industry heavyweights ... to offer more robust policies to our customers."

Cisco said it will create systems that allow for continuous security monitoring and for insurers to double-check that the systems are set up as intended.

Cisco, a networking company that has increasingly moved into cyber security in recent years, highlighted several other joint efforts with Apple. It rolled out a new security app for iPhones meant to protect against so-called phishing attacks - an email with a malicious link sent under the guise of being legitimate.

Cook also said the "fast lane" that Cisco had created in 2015 to speed up Internet connections for iPhones on Cisco routers and switches has been expanded to Mac computers.

Long known for its consumer devices, Apple has embraced business users in recent years, adding additional security features to its iPhones and iPads. In 2015, Cook said Apple was generating at least $25 billion a year in revenue selling to businesses.

Apple has also undertaken joint efforts with enterprise software firms IBM (IBM.N) and SAP SAPG.DE to encourage developers to write business apps for its mobile devices.

Reporting by Stephen Nellis in San Francisco; Editing by Jonathan Oatis and Jeffrey Benkoe